By James Quinn, Wall Street CorrespondentLast Updated: 3:48pm GMT 14/12/2007 Former Federal Reserve chairman Alan Greenspan believes the chances of the US economy sliding into recession now stand at 50-50, rather than the mere 30pc he estimated earlier this year.

Mr Greenspan, who has continued to speak out on the state of the US economy since stepping down in 2006, made the comments during a speech played on National Public Radio.

The former Fed chairman warned "We are getting close to stall speed... and we are far more vulnerable at levels where growth is so slow than we would be otherwise

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